Swiss court rules Czech Republic not entitled to receive compensation from MUS case

29-11-2013

A Swiss court in Bellizona has ruled that neither the Czech Republic nor the company Czech Coal Services are entitled to receive money confiscated in Switzerland in connection with the fraudulent privatization of the Czech Republic’s largest coal mining company Mostecka Uhelna(MUS). While the Czech police was unable to bring the case to court, Swiss investigators assembled sufficient evidence against the company’s former managers to prosecute. They received prison sentences from 16 months to 4 years. The damage incurred to the Czech Republic has been estimated at around two billion crowns.